Buffett and Duan Yongping Significantly Reduce Tech Stock Holdings

Deep News
02/18

Berkshire Hathaway filed its latest 13F report with the SEC after U.S. markets closed on February 17. The filing revealed the investment moves made during Warren Buffett's final quarter as CEO, showing continued adjustments to its technology holdings. While consistently reducing stakes in major positions like Apple and Bank of America, the conglomerate initiated a new position in the traditional media company The New York Times.

According to the disclosure, Berkshire Hathaway slashed its position in Amazon by over 77% during the fourth quarter of 2025, while also continuing its sale of Apple shares for the third consecutive quarter. This 13F filing marks Buffett's final such report after 60 years at the helm, with Greg Abel having officially assumed the CEO role on January 1, 2026.

The 13F filing showed Berkshire sold more than 10.29 million shares of Apple during the fourth quarter, reducing its holding by 4.3% compared to the previous quarter. The value of its Apple position decreased by approximately $2.8 billion by quarter-end, with its portfolio weighting dropping from 22.69% to 22.60%. In terms of value reduction, Apple represented Berkshire's largest divestment during Q4 2025. Despite the ongoing sales, Apple remained Berkshire's largest holding at the end of the fourth quarter of 2025.

The filing also indicated Berkshire reduced its Amazon stake to approximately 2.3 million shares, a sharp decline of over 77% from the previous quarter. The weighting of Amazon in Berkshire's portfolio plummeted from 0.82% to 0.19%. Berkshire first initiated its position in Amazon in 2019, with Buffett acknowledging at the time that not buying the online retail giant earlier was "foolish," despite his traditional caution toward technology stocks.

Amazon's stock has declined approximately 11% since the beginning of 2026, marking its worst comparable period performance in two decades. The company revealed in its latest earnings report plans for $200 billion in capital expenditures during 2026, exceeding the annual investment levels of other technology giants.

Additionally, Berkshire sold nearly 50.8 million shares of Bank of America during Q4 2025, reducing its holding by 8.9%. Bank of America's portfolio weighting decreased to 6.89%, though it remained Berkshire's third-largest holding. However, Berkshire's stake in Bank of America has been reduced by approximately 50% from the 1.03 billion shares held in mid-2024 to 517 million shares.

Notably, The New York Times represented Berkshire's only new position during the quarter, with the conglomerate purchasing 5.067 million shares valued at $352 million. This acquisition gives Berkshire approximately 3.1% ownership of the media company, ranking 30th in its portfolio with a 0.13% weighting. Following the disclosure, The New York Times stock surged over 10% in after-hours trading before paring gains to 2.39%. The stock has shown strong performance recently, rising nearly 7% in 2026 and approaching its all-time high of $74.59, with a 50% gain over the past 12 months.

Berkshire increased its position in Chevron by over 8.09 million shares during Q4 2025, representing a 6.63% increase in share count. Chevron's weighting in the portfolio rose by 0.15 percentage points to 7.24%, with the position's value increasing by approximately $1.23 billion. The conglomerate also added 368,000 shares of Domino's Pizza, a 12.34% increase that brought the holding to approximately $1.4 billion, ranking 20th in the portfolio. Berkshire maintained its position in Kraft Heinz, another consumer staples stock, unchanged during the quarter.

At the end of Q4 2025, Berkshire's top ten holdings by market value remained unchanged from the previous quarter, consisting of: Apple, American Express, Bank of America, Coca-Cola, Chevron, Moody's (rising from seventh to sixth), Occidental Petroleum (falling from sixth to seventh), Chubb, Kraft Heinz, and Alphabet.

Simultaneously, H&H International Investment, managed by Duan Yongping, also reduced its Apple stake during Q4 2025 according to its 13F filing. The filing showed Duan sold five stocks during the quarter, with Apple representing the largest reduction. He increased positions in six stocks, with Nvidia showing the largest purchase followed by Berkshire Hathaway.

Specifically, Apple remained Duan's largest holding at quarter-end with a market value of $8.797 billion, accounting for 50.3% of his portfolio. However, he sold 2.4706 million Apple shares during the quarter, a reduction of 7.09%. Notably, Duan is making significant bets on AI, increasing his Nvidia position by 6.6393 million shares during Q4 - a massive 1,110.62% increase that brought total holdings to 7.2371 million shares valued at $1.35 billion. Nvidia now ranks as his third-largest holding, representing 7.72% of his portfolio.

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